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You form a long straddle by buying a call with a premium of C =...

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Finance

You form a long straddle by buying a call with a premium of C = $8, and buying a put with a premium of P = $6. Both options have an exercise price of X = $55, both mature in 3 months, and both have the same underlying asset. Find the profit of this straddle when the price of the underlying asset is S = $23. Do NOT use the $ symbol in your answer; just write a numerical value. Of course, include the negative sign if the answer is negative; but do not include the positive sign if the answer is positive. (Acceptable error = $1)

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